What is the core transaction announced between ConocoPhillips and BP regarding Iraq's Kirkuk oilfields?

ConocoPhillips agreed to acquire a 42% stake in BP Energy Company of Kirkuk Limited from BP, supporting the redevelopment of four producing oilfields in northern Iraq's Kirkuk area.

What are the key resource and development terms outlined in the agreement?

The contract includes initial gross recoverable resources of more than 3 billion barrels of oil equivalent, to be developed through field rehabilitation, redevelopment, and optimization work, with additional exploration potential.

ConocoPhillips to buy 42% stake in BP unit tied to Iraq's Kirkuk oilfields

Jul 17, 2026

ConocoPhillips agreed to acquire a 42% stake in BP's Kirkuk oilfield unit, facilitating redevelopment of four fields with over 3 billion barrels of recoverable resources.

reuters

2026-05-12

BP buys 40% stake in Uzbekistan oil and gas blocks

2026-07-17

ConocoPhillips to buy 42% stake in BP unit tied to Iraq's Kirkuk oilfields

ConocoPhillips to buy 42% stake in BP unit tied to Iraq's Kirkuk oilfields

FAQ